September 2009

St. Martin Square Condos at Seven Springs in Brentwood

September 28, 2009 by admin · View Comments 

So what if the downtown Nashville scene isn’t your cup of tea? You like the luxury condo product, but not the traffic and noise that urban living inevitably brings. There is an interesting alternative in St. Martin Square at Seven Springs in Brentwood that just might be right for you.
St. Martin Square is a luxury [...]

Encore Condos Offer Close Out Prices

September 25, 2009 by admin · View Comments 

The 332 unit Encore condo building in downtown Nashville is nearly sold out. The owners, Giarratana Development and the Novare Group, have sold nearly 80% of the building and are now in what appears to be the close out phase.
Here is the current incentives package for 2 bedroom condos in the Encore:
• Prices that now begin at [...]

September Nashville Condo Sales Analysis

September 24, 2009 by admin · View Comments 

I was grabbing a quick bite to eat earlier today at a trendy little restaurant in the Gulch when I overhead the following conversation between two seemingly educated 30-something professionals:
Guy #1: “Wow, this area of town is really pretty cool. I mean, it has some really tasty restaurants and stuff, but these condos are just dying. I [...]

Nashville Home Loan Rates Closer to 5 Percent

September 23, 2009 by admin · View Comments 

Nashville home-loan rates remained near three-month lows this week and dipped even closer to the 5 percent threshold, Freddie Mac reported in its survey this past week. According to the firm, average interest on 30-year fixed loans fell to 5.04 percent from 5.07 percent a week earlier; while 15-year mortgages averaged 4.47 percent, down from [...]

Rolling Mill Hill Foreclosure Auction

September 22, 2009 by admin · View Comments 

Rolling Mill Hill’s three condo buildings will be sold to the highest bidder at foreclosure auction at 10 a.m. Sept 24, 2009. The auction will be held on the Metro Nashville courthouse steps located at 1 Public Square in downtown.
The development had been a centerpiece of MDHA’s redevelopment of the old Metro General Hospital site. The agency sold [...]

Velocity in the Gulch Condo Sales Update

September 19, 2009 by admin · View Comments 

It has been tough sledding for the 265 unit Velocity in the Gulch condo project located next door to the Icon. For a project whose presales numbered in the hundreds, having 9 total closings (3.4%) in the first 3 months since opening does not seem impressive. Even less impressive is the over $325 a foot [...]

5th & Main Condo Sales Update

September 18, 2009 by admin · View Comments 

Well, there really is not a whole lot to report here except for the fact that there have been no new closings since my last report in August. Since Wachovia let the East Nashville 5th & Main project slip into receivership, there has still only been 2 brave souls to take the plunge.
The Tennessee Disability [...]

Nashville Mortgage Rates Move Lower

September 16, 2009 by admin · View Comments 

Freddie Mac reported a dip in borrowing costs for long-term mortgages this week. According to the federally chartered company, the average interest on 30-year loans fell to 5.08 percent from 5.14 percent a week ago; while rates on 15-year loans came down to 4.54 percent from 4.58 percent. Adjustable-rate mortgages declined as well, with the [...]

Average Tennessee Closing Costs Going Up

September 16, 2009 by admin · View Comments 

Bankrate.com recently conducted its annual national survey of average origination, title, and closing costs, for a representative $200,000 loan, assuming a 20 percent down payment and good credit.
Nationwide, the average origination and title fees on a $200,000 mortgage this year totaled $2,732, according to Bankrate’s annual survey of closing costs. The fees in the survey [...]

Icon Nashville Condo Prices Going Up

September 14, 2009 by admin · View Comments 

If you are one of those folks who thought that condo prices would continue fall this year, here is a piece of news that will surprise you: The developers of the Icon in the Gulch, Bristol Development and MarketStreet Enterprises, are raising prices today.
Specifically, the Icon is raising prices on all of the downtown facing [...]

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